SRS Limited IPO (Initial Public Offering) : ICRA gives 3 out of 5

SRS Limited IPO has got 3 out of 5 by ICRA (rating agency) and this rating/grading is ‘Average’ for an engineering company. The grade 3 indicates that the fundamentals of the IPO are ‘Average’ compared to the other listed securities in India. SRS Limited is a diversified company with interests in Cinema Exhibition, Food & Beverages, Retail and Manufacturing & Retailing of Jewellery operations. Company operates 23 retail stores, 15 food courts and 30 cinema screens in North India. The company also operates five jewellery retail and wholesale outlets and a jewellery manufacturing unit in Delhi.

The proceeds of the IPO are proposed to be utilized for setting up of cinemas, setting up of food courts and restaurants, setting up of retail stores, setting up of jewellery manufacturing facility and jewellery retail stores, general corporate purposes and issue related expenses.

The Equity Shares are proposed to be listed on the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited (NSE).